Wellington Management Group LLP Sells 6,801 Shares of Brown & Brown, Inc. (NYSE:BRO)

Wellington Management Group LLP lessened its holdings in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 4.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 140,296 shares of the financial services provider's stock after selling 6,801 shares during the period. Wellington Management Group LLP's holdings in Brown & Brown were worth $14,313,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Kohmann Bosshard Financial Services LLC acquired a new position in Brown & Brown during the 4th quarter worth $28,000. Johnson Financial Group Inc. lifted its position in Brown & Brown by 534.1% during the 4th quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider's stock worth $29,000 after acquiring an additional 235 shares during the last quarter. Y.D. More Investments Ltd lifted its position in Brown & Brown by 122.7% during the 4th quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider's stock worth $30,000 after acquiring an additional 162 shares during the last quarter. R Squared Ltd acquired a new position in Brown & Brown during the 4th quarter worth $31,000. Finally, Sunbelt Securities Inc. lifted its position in Brown & Brown by 581.8% during the 4th quarter. Sunbelt Securities Inc. now owns 300 shares of the financial services provider's stock worth $31,000 after acquiring an additional 256 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company's stock.

Brown & Brown Price Performance

Shares of BRO stock traded down $0.75 during trading hours on Wednesday, reaching $111.85. 337,224 shares of the company were exchanged, compared to its average volume of 1,479,700. Brown & Brown, Inc. has a fifty-two week low of $88.31 and a fifty-two week high of $125.68. The stock's fifty day moving average is $114.32 and its two-hundred day moving average is $111.25. The company has a market cap of $32.06 billion, a price-to-earnings ratio of 32.33, a P/E/G ratio of 2.93 and a beta of 0.87. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79.

Brown & Brown (NYSE:BRO - Get Free Report) last announced its earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.30 by ($0.01). Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the previous year, the company posted $1.14 earnings per share. Brown & Brown's revenue for the quarter was up 11.6% on a year-over-year basis. Sell-side analysts forecast that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Monday, May 12th were issued a $0.15 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.60 annualized dividend and a yield of 0.54%. Brown & Brown's dividend payout ratio (DPR) is presently 16.71%.

Analyst Ratings Changes

A number of research analysts have weighed in on BRO shares. UBS Group boosted their target price on shares of Brown & Brown from $110.00 to $120.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 9th. Morgan Stanley restated an "equal weight" rating and set a $128.00 price objective on shares of Brown & Brown in a report on Tuesday, March 25th. Barclays boosted their price objective on shares of Brown & Brown from $119.00 to $121.00 and gave the stock an "equal weight" rating in a report on Friday, April 11th. Truist Financial dropped their price objective on shares of Brown & Brown from $138.00 to $130.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Finally, The Goldman Sachs Group downgraded shares of Brown & Brown from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $126.00 to $119.00 in a report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $118.25.

Brown & Brown Company Profile

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.